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Here’s Why GBP Soared on May’s Hard Exit Plans

Here’s Why GBP Soared on May’s Hard Exit Plans

Daily FX Market Roundup 01.17.17

Who would have thought that Prime Minister May’s plans for a hard exit from the European Union would trigger the strongest one day rally for the sterling versus the U.S. dollar since 2008?

A lot was said in this morning’s speech but at the end of the day, there were 4 main takeaways:

1. Britain is not seeking partial membership of EU – No Half In, Half Out

2. May won’t be proposing membership of EU Single Market

3. Government will put final deal to vote in Parliament

4. May will seek to avoid a disruptive Brexit cliff-edge – will aim for Phased Transition

read the rest here 

http://www.bkassetmanagement.com/featured/heres-why-gbp-soared-on-m...

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